Zacks Investment Research Upgrades Zumiez Inc. (ZUMZ) to Buy

Zacks Investment Research upgraded shares of Zumiez Inc. (NASDAQ:ZUMZ) from a hold rating to a buy rating in a research report released on Tuesday, September 12th. The brokerage currently has $18.00 price target on the apparel and footwear maker’s stock.

According to Zacks, “Zumiez has substantially outperformed the industry in the past month riding on robust top and bottom-line surprise trends, alongside solid comps performance in recent months. The company maintained the trend in second-quarter fiscal 2017 as both top and bottom lines beat estimates. Notably, the company delivered positive earnings surprise for the eighth straight quarter, while sales topped estimates in six of the last eight quarters. It also delivered positive comps for both the second quarter and August, marking fourth straight quarter and sixth consecutive month of comps growth. Moreover, Zumiez issued an encouraging outlook for the third quarter owing to the continuation of the comps momentum. However, the company expects foreign currency to bear a greater impact on sales, expenses and profitability in the fiscal second half, due to the strengthening of the European, Canadian and Australian currencies against the U.S. dollar.”

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Other equities analysts also recently issued reports about the company. B. Riley upgraded Zumiez from a neutral rating to a buy rating and lifted their price target for the stock from $17.00 to $18.00 in a research note on Friday, September 8th. BMO Capital Markets set a $16.00 target price on shares of Zumiez and gave the stock a hold rating in a report on Sunday, September 10th. Robert W. Baird reissued a hold rating and issued a $17.00 target price on shares of Zumiez in a report on Friday, September 8th. BidaskClub raised Zumiez from a sell rating to a hold rating in a report on Friday, August 25th. Finally, Jefferies Group LLC set a $15.00 price target on Zumiez and gave the company a hold rating in a report on Saturday, June 3rd. Eight investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $19.50.

Zumiez (NASDAQ:ZUMZ) opened at 16.45 on Tuesday. The company has a market cap of $415.03 million, a P/E ratio of 17.15 and a beta of 1.27. Zumiez has a 12 month low of $11.43 and a 12 month high of $26.55. The firm has a 50-day moving average price of $13.46 and a 200 day moving average price of $14.86.

Zumiez (NASDAQ:ZUMZ) last released its quarterly earnings data on Thursday, September 7th. The apparel and footwear maker reported ($0.02) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.04. The company had revenue of $192.20 million for the quarter, compared to analyst estimates of $192.12 million. Zumiez had a return on equity of 7.83% and a net margin of 2.78%. The firm’s revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted ($0.03) earnings per share. Equities research analysts predict that Zumiez will post $1.05 EPS for the current year.

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Several institutional investors have recently bought and sold shares of ZUMZ. Great West Life Assurance Co. Can grew its holdings in shares of Zumiez by 13.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 24,428 shares of the apparel and footwear maker’s stock valued at $447,000 after acquiring an additional 2,817 shares in the last quarter. State Board of Administration of Florida Retirement System grew its holdings in shares of Zumiez by 0.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 18,594 shares of the apparel and footwear maker’s stock valued at $340,000 after acquiring an additional 88 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Zumiez by 1.4% during the 1st quarter. Bank of New York Mellon Corp now owns 216,190 shares of the apparel and footwear maker’s stock valued at $3,957,000 after acquiring an additional 3,001 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in shares of Zumiez by 4.6% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,082 shares of the apparel and footwear maker’s stock valued at $185,000 after acquiring an additional 441 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Zumiez by 2.9% during the 1st quarter. Comerica Bank now owns 19,309 shares of the apparel and footwear maker’s stock valued at $350,000 after acquiring an additional 547 shares in the last quarter. Institutional investors and hedge funds own 80.97% of the company’s stock.

Zumiez Company Profile

Zumiez Inc, including its subsidiaries, is a specialty retailer of apparel, footwear, accessories and hardgoods for young men and women through the fashion, music, art and culture of action sports, streetwear and other lifestyles. The Company operates under the names Zumiez, Blue Tomato and Fast Times.